Earn Passive Income with Freename

Passive Income

We are living in times of economic uncertainty. Macro sentiments about the future only lead to one thing – inflation. It is not a surprise that one of the top-asked questions on Google is “How can I earn passive income online?”. Web 3 firms like Freename.io are building many solutions to help empower people and their incomes. Let’s discover some passive income strategies.

Is passive income better than active income?

Active income is directly related to the hours of work you put in. Passive income is not. Working a traditional job is a great example of active income as you get paid by the hours worked. Your time is money. Leaving your job means leaving your income. The concept of passive income is becoming quite popular as it is not necessarily tied to your hours of work.

All forms of income are essential. However, building passive income streams accelerates your goal of achieving financial independence. Let’s say you buy a property and start earning rent. You don’t have to work extra to earn rent. The rent is your passive income. Another example is creating a course online. Yes, you will have to put in the hours to create a good course. But after you publish the course, you have passive income. People will buy your course and all you have to do is focus on scaling the course.

One thing is for certain. You need passive income to “earn while you sleep”. You are most likely asking yourself “how can I earn passive income online”. This blog will show you traditional ways and easier ways to generate.

Traditional ways to earn passive income

Let’s look at some traditional ways to earn passive income in Web 3.

Deposit assets in an interest-earning account

The most obvious way to generate income is to invest in cryptocurrencies and profit from the rise in price. This is more of an active income strategy. There is a way to make it passive. Certain centralized exchanges and protocols offer you interest on your assets. You are putting your money to work. Binance offers 5% APR if you deposit your BTC. This is a popular way to generate passive income

Passive Income Pros: Truly passive.

Passive Income Cons: Lock-up period. You have to wait till the end of the lock-up period to withdraw.

Staking

Staking your cryptocurrency tokens help sustain a network. Locking up your tokens for certain periods of time leads to you getting paid rewards or earning interest. How is this different from the previous strategy? You stake tokens to waive your right to sell them. This is so you can participate in the blockchain transaction verification. So you are investing and locking up your tokens to start working with the protocol. You are getting paid to help the network and you are doing so without putting in the hours. Here is a database of protocols that let you stake.

Passive Income Pros: higher interest than the previous strategy.

Passive Income Cons: Prices may be more volatile on assets not as stable as blue-chip protocols. Each protocol has its own rules and regulations on lock-up periods.

Equities

There are many platforms that allow you to purchase shares in different Web 3 firms and traditional stocks. Automated investing platforms can help make this more passive. If you have a good insight with macro insights and the Web 3 industry, this is a great option.

Passive Income Pros: You decide what protocols to invest in.

Passive Income Cons: You may opt-out of automated investment to have more of a say. Then it becomes less passive. You will have to speculate and put in the work as it is advised to keep up to date with the industry to protect your investments.

Easier ways to earn passive income

Domain flipping

This is when you predict and invest in domains that you believe will be valuable in the future.. You buy the domain once, and sell it when the right time comes. A valuable strategy to implement is the ‘.com 4L’ where you buy 4 letter domains like DELL, EBAY, KPMG, etc. While Web 2 domains are already taken, buying on Web 3 registrars like unstoppable domains can give you the edge, if they decide to expand into Web 3.

TLD Royalties

Web 3 firms like Freename.io are pushing to empower their users. Unlike other Web 3 registrars, Freename.io helps you to mint a TLD and earn royalties from it. The goal is to buy something that can be popular, like “.metaverse”. Future firms are likely to buy a domain on this TLD. If they do, you earn 50% of the transaction because of Freename’s Royalty License (embedded in their smart contract).

At the end of the day, creating passive income takes time to create. Going with easier passive income strategies can help if you don’t have much time on your hands. You can also still domain flip on TLD providers like Freename.io. This paired with royalties from TLDs can evolve into a great passive income stream. It’s all about picking your passive income stream and getting to work.

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How does it work?

Accordingly to the day when you will finalise your purchase, you have the right to receive from 1 to 3 NFT Domains for FREE!

Once you have completed your order, within 48h you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain/s.

You can chose on which blockchain you want to mint on and minting fee is covered by Freename!

HOW TO USE COUPONS:

Once you have added your favorite items to the cart, you proceed to “checkout” and add your coupon to the “coupon box”.

Said coupon will instantly do its magic and your due total will drop!

COUPON CODE CAN ONLY BE USED ONCE!
ENJOY YOUR SHOPPING AND GIFTS!

How does it work?

Once you have completed your order, you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain value $50 or if you’re lucky a randomly assigned TLD with value $699 (between these: .immersive; .multiverse; .freelancer; .cashback; .hologram)

you can chose on which blockchain you want to mint your NFT Domain/TLD on and minting fee is covered by Freename!

GOOD LUCK!

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Why do i Need a Wallet?

Freename domains are blockchain-based assets and would be minted and stored using a wallet. Users are required to mint and manage their domains using a Metamask or Coinbase-configured wallet. It must be a non-custodial wallet, meaning that one must own the private keys to the wallet in order to approve transactions via a signature.

To benefit from Freename Web 3 domains/TLDs, you must have a wallet. This is because Web 3 domains/TLDs are blockchain-based assets. Users can mint and manage their domains using Metamask or Coinbase-configured wallets.

Keep in mind that it must be a non-custodial wallet. You own the private keys to the wallet (in order to approve transactions via a signature).

Are the Domains Associated with ICANN?

ICANN does not manage freename.io domains. Freename.io believes their TLDs/domains must allow customers to operate independently. Freename.io wants to build a utility infrastructure, allowing customers to use their services for valuable and generative purposes. By leveraging blockchain technology, Freename Web 3 domains/TLDs have no centralized authority imposing rules and regulations.

What is a Wallet?

Every blockchain user requires a wallet in order to interact with the network. A wallet is essentially an account on the blockchain where transactions can be sent and received. It is also where one can store blockchain assets such as cryptocurrency or NFTs (non-fungible tokens). There is no personal information associated with a wallet and none is required to create one. A wallet consists of a public key and a private key. The public key can be safely shared with anyone who wishes to send assets to the corresponding wallet, however, the private key should not be shared and is the key to accessing the wallet in the event where access is lost or to create another instance.

A crypto wallet (cryptocurrency wallet) is software or hardware that enables users to store and use cryptocurrency. With cryptocurrencies, there isn’t any actual money to carry around in a wallet. They exist on the blockchain. Similarly to traditional bank transfers, crypto wallets enable users to send and receive cryptocurrencies, NFTs, etc.

A wallet consists of a public key and a private key. To receive assets, you share your public key associated with your wallet. You should NEVER share your private key.

How do i Claim my Earnings from Freename

ou can withdraw revenues generated passively through a cryptocurrency transfer. Connect your cryptocurrency wallet and, once your withdrawal request is confirmed, the desired amount is pulled from Freename’s reserves and conveniently delivered to you!

Claim your earnings by following these steps:

  1. Connect your cryptocurrency wallet to Freename.io
  2. Request a withdrawal
  3. Receive request confirmation
  4. Receive withdrawal directly to your wallet.

Can i Transfer Domains?

Yes. The domain is stored in your cryptocurrency wallet and can be transferred by you after you have minted it. Access your portfolio, select the TLD or Domain you wish to transfer and type the recipient’s address. Afterwards, you must paste the OTP code you received by mail to confirm the transaction. Keep in mind that currently, it is not possible to import the domain that has been transferred, but it will be possible soon!

Yes. Domains are transferable ONLY after a TLD/domain has been minted and stored in a user’s wallet.

To transfer the TLD (or domain), the user must:

  • Access their wallet
  • Select the item they want to transfer
  • Enter the recipient’s address.
  • Confirm the transaction by pasting the OTP received by email

In the future, Freename.io will support importing domains that have been transferred.

What about Trademarks?

Registering a trademark on your Freename Web3 TLD will allow you to protect your web3 TLD and your logo worldwide juridically.

From the moment you deposit a trademark request, your web3 TLD will be protected worldwide for 6 months awaiting for the Swiss Federal Institute of Intellectual Property (IGE.ch) to confirm and register the availability of your TLD.****

A trademark is any symbol, phrase, or word that allows customers to identify a company’s goods or services. Freename is a web3 domain/TLD provider that also provides trademark registration.

A user must reach out to the trademark department to register a trademark. To get your trademark filed for review at the Swiss Federal Institute of Intellectual Property, a user must provide the following:

  1. Complete a Know your customer (KYC)
  2. A list of TLDs they wish to trademark
  3. Proof of payment

Once these conditions are met, it takes one week for the trademark to be reviewed and logo/TLDs to be provided with six months of worldwide protection.

Is Minting the same as Buying?

Purchasing a TLD (or domain) on Freename and minting it on the blockchain are two distinct steps. When you purchase a TLD (or domain), the transaction is recorded in Freename’s database and not on the blockchain. Minting a TLD (or domain) on the blockchain requires a second step: log into the user’s personal area, select the TLD (or domain) and press “mint TLD” (or domain): done! Don’t worry, once you have purchased a Freename domain, no one can take it away from you!

No. Buying and Minting a TLD/domain are two different things.**

Buying **is the process of recording a transaction on Freename’s database and not on the blockchain.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full control over the TLD/domain.

It is very easy to mint a domain/TLD once you purchase it. Simply:

  • Log into your personal area
  • Select the TLD (or domain)
  • Press “mint TLD” (or domain)

What is Domain Minting?

Minting is the process of publishing a Freename domain (or TLD) on the blockchain via your wallet to gain full custody of the domain. This means that the only person that has control over the domain (or TLD) is the person who controls (has access to) the wallet.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full ownership over the domain.

Minting on Freename.io is as simple as the following steps:

  1. Go to the Freename.io website
  2. Enter the TLD/domain you want to buy in the search bar
  3. Add the TLD/domain to your cart
  4. Go to checkout
  5. Create a Freename.io account
  6. Purchase the TLD/domain with cryptocurrency or a credit card
  7. Go to “portfolio and incomes.”
  8. Click on mint TLD/domain

Which domains are Protected?

Protected domains and TLDs are domains and TLDs that we’ve detected are associated with a brand, organization, or notable person. We believe it is important to increase adoption for the next generation of the internet by helping to onboard brands into the Web3 era. If you are interested in applying for a Protected domain, please contact us.

TLDs/Domains associated with a notable person, brand or organization are considered Protected Domains. Protected domains help onboard brands in Web 3 increasing adoption. Protected domains also protect users from others impersonating/stealing their domains.

Reach out to Freename.io to apply for a protected domain.

Why use Freename?

Freename domains are unique by their very nature: only with Freename you can register domains with unique TLDs for your digital identity while passively earning money!

Freename.io is not only the leading TLD and Domains platform in Web 3, but also lets users generate passive income!

Owning a Freename Web 3 TLD entitles users to receive passive income whenever a domain is bought on their TLD. Users can register and mint TLD/domains of their choice if available.

What is a Domain?

A domain name is a string of letters and/or numbers that points to the IP address of the corresponding website. Generally, it is easier to remember a name than a long string of numbers.

A domain name is an address that people type into a browser bar to find a website. It consists of a Top-Level Domain (TLD), everything that comes after the dot, and the Second-Level Domain (SLD), everything that comes before the dot.

For example, “Freename.io” is the domain name, “Freename” is the SLD and “io” is the TLD.

Which Chains are Supported?

Freename has a multi-chain approach. You can choose on which Blockchain to mint your Web3 Domains and TLDs ranging Among Polygon, Cronos, and Binance.

A user can mint a Freename.io domain/TLD on the following blockchains:

  • Polygon
  • Cronos
  • Binance

Freename plans to expand its multi-chain approach by adding blockchains upon which domains can be minted.

Are there Renewal Fees?

No! Once you’ve bought a Freename Domain or TLD, it’s yours forever, no renewal fees ever!

No. There are no renewal fees on Freename.io. Once a user has paid a one-time payment for a domain/TLD, they own it. Forever.

This is the significant advantage of Web 3 domain/TLD over traditional alternatives.

Ask Away!